SE Asia Stocks -Lower amid weak global outlook; Thai Airways up

miércoles 8 de octubre de 2014 02:36 GYT
 

BANGKOK, Oct 8 (Reuters) - Most Southeast Asian stock
markets edged down on Wednesday amid worries about weaker global
economic outlook and a fall in regional currencies but shares of
Thai Airways International rallied on expectation of a
fourth-quarter profit.
    The International Monetary Fund cut its global economic
growth forecasts for the third time this year on Tuesday,
warning of weaker growth in core euro zone countries, Japan and
big emerging markets like Brazil. 
    Asian stocks eased with MSCI's broadest index of
Asia-Pacific shares outside Japan down about 1
percent. Most emerging Asian currencies fell as concerns over
slowing global growth hurt risk assets. 
 
    The Jakarta Composite Index was an underperformer,
down 1 percent as the rupiah hit its weakest in more
than eight months. Foreign investors were net sellers of large
caps such as Bank Rakyat Indonesia and Bank Mandiri
, Thomson Reuters data showed.
    Singapore's stock index fell for a second day with
the local currency easing on selling from hedge funds.
    The Thai SET index was flat at midday, recouping
early losses, led by a 5.8 percent gain in Thai Airways after a
newspaper reported the airline would report a loss for the third
quarter but return to a profit in the fourth
quarter. 
    Index heavyweights such as Advanced Info Service 
and PTT Exploration and Production led among losers,
weighed by a downbeat fund-flow outlook and a weakening local
currency.
    "Capital outflows will be the key factor to impact the SET
today as markets in the U.S. and Europe declined overnight and
the region is in the red this morning," strategists at broker
Krungsri Securities said in a report.
    Malaysia's main index was down 0.3 percent, hovering
around the lowest level since March 25. Its 14-day Relative
Strength Index (RSI) was at 31.4, close to an oversold level of
30 or below.
    Investors also awaited details of the 2015 budget to be
presented by Prime Minister Najib Razak on Friday.
    "This budget will be keenly watched as it could mark another
step towards fiscal consolidation following the efforts from
last year's budget as well as the recent cuts in fuel
subsidies," DBS Group Research said in a report.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0551 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3231.53       3243.99       -0.38
 Kuala Lumpur       1828.23       1833.54       -0.29
 Bangkok            1539.40       1539.39        0.00
 Jakarta            4980.26       5032.84       -1.04
 Manila             7199.86       7239.38       -0.55
 Ho Chi Minh         612.42        614.08       -0.27
 
 (Reporting by Viparat Jantraprap; Additional reporting by
Yantoultra Ngui in Kuala Lumpur; Editing by Subhranshu Sahu)